11F. [ Bar to carry on business without registration certificate. [[Substituted by M.P. Act No. 13 of 2001 (w.e.f. 20-4-2001). Prior to substitution it read as under:
'11-F. Bar to carry on business without registration certificate.- (1) No person shall carry on the business of money lending in any district unless he holds a valid registration certificate in respect of that district.(2)Whoever contravenes the provisions of sub-section (1) shall be punishable with fine which may extend to two hundred rupees or if he has previously been convicted of an offence under that sub-section, with fine which may extend to five hundred rupees.']](1)No person shall carry on the business of money lending in any area unless he holds a valid registration certificate in respect of that area :Provided that the person who holds a valid registration certificate shall not carry on the business of money lending in the area of a Gram Panchayat or shall not lend money to a member of a Gram Sabha if a resolution to that effect is duly passed by the Gram Sabha of such Gram Panchayat.(2)Whoever contravenes the provisions of sub-section (1), in any area other than the Scheduled Area, shall be punishable with fine which may extend to two thousand rupees or, if he has previously been convicted of an offence under that sub-section, with fine which may extend to five thousand rupees.(3)Whoever contravenes the provisions of sub-section (1), in any Scheduled Area, shall be punishable with imprisonment which may extend to two years or with fine which may extend to ten thousand rupees or with both.]
